Treasury

Contingencies Fund Advance

Jesse Norman: HM Revenue and Customs will incur new expenditure in connection with the government’s response to the Covid-19 pandemic in 2020-21. Parliamentary approval for additional resources of £900,000,000 for this new expenditure will be sought in a Supplementary Estimate for HM Revenue and Customs. Pending that approval, urgent expenditure estimated at £900,000,000 will be met by repayable cash advances from the Contingencies Fund. Parliamentary approval for additional resources of £14,100,000,000 will be sought in the Supplementary Estimate for HM Revenue and Customs. Pending that approval, urgent expenditure estimated at £14,100,000,000 will be met by repayable cash advances from the Contingencies Fund. In line with the latest OBR forecasts, further requests to the Contingencies Fund may be made as necessary to fund Covid-19 activity delivered by Her Majesty’s Revenue and Customs.